Category Archives: Macroeconomic policy

Bill Black: Debt Derangement Syndrome – Saving Our Grandkids from Wall Street

Debt scaremongering is baaack! Why Pete Peterson and his budget falsehoods are a danger to your and your grandkids’ financial health.


Economic ‘Recovery’ Feels Weak Because the Great Recession Hasn’t Really Ended

We are not in a recovery and we’re not really in a traditional recession. People think of a business cycle, which is a boom followed by a recession and then automatic stabilizers revive the economy. But this time we can’t revive.


Piketty’s Rising Share of Capital Income and the US Housing Market

The rising share of income accruing to housing is a key feature of the changing US income distribution. This column examines the determinants of this phenomenon. The rise occurred due to an increasing share of income accruing to owner-occupiers through imputed rent, it is concentrated in states that are constrained in terms of new housing supply, and it is closely associated with the long-run decline in real interest rates and inflation.